Latest Breaking Business News
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Jobs housing data show economy has some muscle
The improving employment picture is helping to prop up housing, with rising home prices keeping domestic consumption supported, limiting the drag from tighter fiscal policy that is dampening factory ...
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Large U.S. retailers sue Visa MasterCard over card fees
The lawsuit was filed in the U.S. District Court in Manhattan on behalf of many retailers that opted out of receiving proposed damages from the ...
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Glencore says Iran metals swap deals did not violate sanctions
GLEN.L ) said on Thursday that it had done nothing wrong when it engaged in metal swaps with Iran, rejecting a suggestion by U.N. experts that such bartering could have been a way of evading sanctions against Tehran over its nuclear ...
More Breaking Business News
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Forest Labs longtime CEO Solomon to step down at year-end
FRX.N ) said Howard Solomon, its chief executive of more than 35 years, will retire at the end of this year, capping a tenure that saw the company morph from a small generic and vitamins maker to a $10 billion ...
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Netherlands Confirms Plan to Sell Urenco Stake
The Netherlands Thursday confirmed it plans to divest its 33% stake in Urenco Ltd., clearing the way for the sale of the world's second-largest nuclear fuel maker.Urenco supplies nuclear fuel to power plants in Europe and the U.S.The U.K. government also owns a third of the company, while Germany's top two utilities--E.ON SE (EOAN.XE) and RWE AG (RWE.XE)--hold equal shares of the ...
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Lloyds to Sell $8.7 Billion U.S. Mortgage Portfolio
Lloyds Banking Group PLC is looking to auction about $8.7 billion of U.S. mortgage securities, a person with knowledge of the sale said Thursday.The assets are a mixture of risky non-government residential mortgage-backed securities issued by Wall Street banks before the financial crisis, according to Empirasign Strategies, a trade database. Demand for these bonds, known as nonagency RMBS, has ...
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ISS Employee Leaked Proxy Votes for Concert Tickets SEC Says
Institutional Shareholder Services Inc., a proxy advisory firm that advises investors on corporate governance matters, agreed to pay a $300,000 penalty to settle charges that an employee leaked confidential information on proxy votes for roughly five years.The employee, who no longer works at ISS, passed along information about how more than 100 clients were voting in exchange for tickets to ...
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Tata Steel Posts Biggest Quarterly Loss on Write-Down
Tata Steel Ltd. (500470.BY) Thursday posted its biggest quarterly loss ever as the company took a large non-cash charge on some assets write-downs, including in its key European market.Tata Steel reported a net loss of 65.29 billion rupees [$1.17 billion] for the January-March period, compared with a profit of 4.33 billion rupees a year earlier. Sales rose 1.0% to 341.80 billion rupees.The ...
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Goldman Sachs Says It Adopts All 39 Initiatives To Address Conflicts Of Interest Other Business Issues
Goldman Sachs Group Inc. (GS) said it has adopted all 39 initiatives it proposed to strengthen its business practices in the wake of the financial crisis, a step designed to help both employees and clients move past one of most challenging chapters in the firm's 147-year history.Goldman's business-standards committee, a group formed just as the public backlash against the firm and its ...
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MARKET SNAPSHOT U.S. Stocks Shake Off Worst Of Drop Dow Positive
NEW YORK – U.S. stocks recovered and turned mixed Thursday after Japanese equities dived overnight, as global markets reacted to weak Chinese manufacturing data and worries about the Federal Reserve potentially tapering its bond-buying program.The main indexes dropped early, but then started to lift off their session lows after data showed sales of new homes rose in April to the ...
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Industry view pipeline reality check
The site provides a link to a paper from the Pembina Institute that reports that "A U.S. EPA analysis found that Keystone XL would cause up to 27.6 Mt in additional or incremental greenhouse gas emissions compared to existing sources of crude oil. This estimate reflects the higher-than-average greenhouse gas emissions from extracting, transporting, upgrading and refining oilsands." ...
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Twitter doubling revenue An investors dream
current valuation is almost $10 billion . But unlike the disappointment that became Facebook, the value may be low enough, and revenue growing fast enough, that investors will ultimately be satisfied -- when Twitter finally decides to hold its ...
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Hobby Lobby challenges birth control coverage
DENVER In the most prominent challenge of its kind, Hobby Lobby Stores Inc. is asking a federal appeals court Thursday for an exemption from part of the federal health care law that requires it to offer employees health coverage that includes access to the morning-after pill. The Oklahoma City-based arts-and-crafts chain argues that businesses -- and not just the currently exempted religious ...
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European stocks slump in wake of Tokyo plunge
LONDON (AFP) - European stock markets slumped Thursday, with most indices dropping more than 2.0 percent after Tokyo shares plunged owing to weak Chinese data and signs that the US Federal Reserve may soon taper massive stimulus measures, analysts said.London's FTSE 100 index of leading shares fell 2.10 percent to 6,696.79 points, while in Frankfurt the DAX 30 index also dropped 2.10 ...
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US STOCKS-Wall St dips as data HP offset stimulus fears
Thu May 23, 2013 12:53pm EDT * Encouraging economic data help stocks retreat from lows * HP jumps after raising 2013 outlook * Investors fret about timing of Fed stimulus pullback * Dow off 0.03 pct, S&P 500 off 0.3 pct, Nasdaq off 0.2 pct By Leah Schnurr NEW YORK, May 23 (Reuters) - U.S. stocks slipped on Thursday, recovering from session lows as encouraging domestic economic data and a rally ...
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New home prices rise at strongest rate on record
Furthering a trend that begin in early 2011, new home sales across the country increased to a 454,000-unit annualized pace last month, with year-over-year prices posting the strongest rate on record, according to new data from the U.S. Census Bureau. Economists at Wells Fargo Securities say that a 2.3 percent increase in sales from March to April exceeded analyst expectations. On a ...
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Toro beats 2nd qtr. estimates despite cold spring
Sales and earnings rose despite unusually cold weather this year in North America and Europe that hurt residential sales of spring-related equipment, said CEO Michael ...
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Oil falls after China manufacturing contracts in May US pump price at $3.66 as weekend nears
NEW YORK - The price of oil fell Thursday as weak manufacturing data from China raised questions about the strength of oil demand in the world's No. 2 economy. Oil's decline was exacerbated by sharp declines in global stock markets amid indications that the U.S. Federal Reserve's may pull back on its economic stimulus program. An earlier loss of $2 a barrel was trimmed by ...
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Shifting fortunes Which CEOs got the biggest pay cuts and the biggest raises
Here's a look at the CEOs that received the biggest raises and the biggest pay cuts in 2012 compared with 2011, as calculated by the executive pay research firm Equilar and The Associated Press. Whose pay rose the most: 1. Ronald Havner Jr., Public Storage, $15.4 million, up 456 percent 2. Dara Khosrowshahi, Expedia, $14.4 million, up 309 percent 3. Ralph Izzo, Public Service Enterprise ...
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New antibody technology discovers drugs rapidly
The technology rapidly finds antibodies that can perform a variety of cellular functions, such as stimulating the growth of blood cells, modifying stem cells or imitating hormones. These are things antibodies don't normally do. In nature; these large protein molecules are made by certain white blood cells to fight invading ...
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Foul lover launches thriving Rent-A-Chicken business
Folks are a-cluckin’ for Rent-A-Chicken-the first American business to offer hens on loan!Founder Leslie Suitor launched her feathery venture after neighbors in Traverse City, Michigan started cooing for local eggs as part of a growing farm-to-table trend. Now Suitor makes thousands of dollars a year loaning birds to folks all over North Michigan, and her operation has spurred a wave of ...
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Alcoa police identify man who jumped from bridge
Jason Parks was admitted to the University of Tennessee Medical Center with non-life threatening injuries, according to Alcoa Police Department Det. Jason Ewing. Parks was listed Thursday in serious ...
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Tesco will not pay executive bonuses
London - Tesco executives will not receive a bonus in the current financial year unless they can reverse a decline in profits at Britain's biggest supermarket operator, the company said in its annual report on ...
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Microsoft mouse gets Windows 8 Start button
In the meantime the company is releasing a new computer mouse with a dedicated ';Start'; button, just behindits scroll wheel. The blue Windows button on the Sculpt Mobile Mouse launches the tiled home screen of Windows 8, which the company calls the ';Start screen.'; Used withWindows 7, the button launches the traditional ';Start'; menu. Presumablyit may be ...
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European stock markets post heavy losses after Nikkei plunges 7 - live
BST The US stock market, though, is not joining in the selloff which began overnight in Japan and rippled around the globe. Almost halfway through the trading day, the Dow Jones index has just moved into positive territory - up 15 points at 15323. It takes more than a 7.3% plunge on the Nikkei to give Wall Street the ...
Iran Focus
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Iran will have men in space within ten years
Iran will have astronauts in space within the next ten years, according to government officials who recently revealed to Iran news media the Iranian Space Agency’s long-term space objectives.
Iran has pursued an ambitious space program in recent years, entering the so-called ‘Asian Space Race’ and launching the country’s first rocket in 2004, followed in 2009 by the launch of an entirely domestically-built satellite, thereby becoming the 9th country in the world to have achieved orbital-launch capability. Read more
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